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The company's board authorised and declared the opening of the issue on Thursday, 22 June 2023.
The floor price of Rs 425.19 is at a discount of 5.94% to the previous day's closing price of Rs 452.05 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue.
A meeting of the board of directors is scheduled to be held on or after 27 June 2023, to consider and and determine the issue price for the equity shares to be allotted to qualified institutional buyers.
Orchid Pharma is one of the leading pharmaceutical companies in India head quartered in Chennai and involved in the development, manufacture and marketing of diverse bulk actives, formulations and nutraceuticals with exports spanning over 40 countries.
The company reported consolidated net profit of Rs 59.14 crore in Q4 FY23 as against a net loss of Rs 6.59 crore in Q4 FY22. Net sales rose 17.8% to Rs 209.90 crore in Q4 FY23.
The scrip was freezed at its 52-week high of Rs 474.65 on the BSE.
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